Clear Harbor Asset Management LLC Acquires New Holdings in Heico Corporation $HEI

Key Points

• Clear Harbor Asset Management acquired 27,015 HEICO shares worth approximately $9.6 million during the second quarter. Several other institutional investors also initiated positions, with institutions owning 27.12% of the company.
• HEICO reported quarterly EPS of $1.66, beating estimates of $1.33, while revenue rose 25.3% year over year to $1.38 billion. Analysts expect full-year EPS of approximately $6.02.
• HEICO shares opened at $355.49, near their 52-week high, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $379.56.

Clear Harbor Asset Management LLC bought a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 27,015 shares of the aerospace company's stock, valued at approximately $9,622,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Maridea Wealth Management LLC acquired a new position in shares of Heico during the second quarter worth $1,128,000. Indivisible Partners acquired a new stake in Heico in the fourth quarter valued at $5,883,000. Silvant Capital Management LLC acquired a new stake in Heico in the second quarter valued at $9,385,000. PFA Pension Forsikringsaktieselskab bought a new position in Heico during the 4th quarter worth $8,395,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Heico during the 2nd quarter worth about $1,262,000. 27.12% of the stock is owned by institutional investors.

Heico Stock Performance

Shares of Heico stock opened at $355.49 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $353.04 and a two-hundred day moving average price of $320.96. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a market cap of $49.65 billion, a P/E ratio of 63.48, a PEG ratio of 3.64 and a beta of 1.04.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm's revenue was up 25.3% compared to the same quarter last year. As a group, analysts anticipate that Heico Corporation will post 6.02 EPS for the current year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico's payout ratio is presently 4.64%.

Insider Transactions at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.86% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HEI. Morgan Stanley set a $370.00 price target on Heico in a research note on Wednesday, July 15th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $425.00 price objective on shares of Heico in a research note on Thursday, August 13th. Wall Street Zen cut Heico from a "buy" rating to a "hold" rating in a report on Sunday. UBS Group reissued a "neutral" rating and set a $390.00 target price (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 price target on shares of Heico and gave the stock a "buy" rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Heico presently has a consensus rating of "Moderate Buy" and an average price target of $379.56.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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